Tax Articles and HMRC News from Bettertax

23

Sep

UK Tax Code 2018 - 2019 1185L

Published in Tax Articles

On the 6th of April each year the tax codes change to reflect the new personal allowances, or how much you can earn before paying tax or tax at different rates. The basic rate tax code for 2018 - 2019 is 1185L.

This basically means you can earn £11850 during the year before you start to pay tax at the basic 20% rate.

 

 UK tax code 2018 - 2019

 

During the next few weeks HMRC will issue letters with your new PAYE tax coding. It is actually important to check your code and ensure it is correct, especially if you have received a tax refund in the past. HMRC have the tendency to assume that any expenses you claimed for before will be exactly the same every year - which is utter nonsense!

Unfortunately, if your tax code is incorrect you could end up paying too much, or worse, too little tax. If you pay too little tax HMRC WILL claw it back, even though it's partly their fault for giving you the wrong code!

As a client of ours, part of our service is to deal with HMRC on your behalf and make sure you pay the correct tax. However, even though we are your tax agent, HMRC DO NOT tell us your tax code, so do please look out for any changes and let us know immediately so we can have it corrected.

You can find out more about our self-assessment tax returns services or just give us a quick call - we're always happy to answer any questions you may have.

 

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23

Sep

Many Happy Tax Returns!

Published in Tax Articles

Have you ever made a self assessement tax return claim? Well, maybe you should have.

We used to be very surprised by how many people didn't know they were entitled to tax back but HMRC do like to keep it difficult and try to make tax payers think they wouldn't be eligible.

We make the process as simple and quick as possible. If you are self employed or a CIS (Consruction Industry Scheme paid) individual, you should already be completing yearly tax returns. It's the only way HMRC know for sure how much you have earned and it also tells them how much tax you paid and what expenses you are claiming for. You will very often have overpaid tax (CIS) and will almost certainly have qualifying expenses.

So many PAYE employees also have expenses they should be claiming for, usually in the form of travel costs to get to temporary work places.

With the new tax year looming, it starts on 6th April, you have a few short weeks to make sure you don't lose a year of tax refunds. We can help you go back 4 years in tax returns. Currently we are claiming for the tax years:

2013 - 2014

2014 - 2015

2015 - 2016

2016 - 2017

After 6th April we won't be able to claim a tax rebate for 2013 - 2014 so please get in touch now to hang on to it!

bettertax zen style tax returns

 Chill and let us do the rest!

 

start your tax return now

 

 

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